This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!I hear it all the time, “Bitcoin is only for _______”SavingStackingSpendingTradingCollateralBalancingPrivacyCollecting InterestHedgingEtc. Etc. Etc.Everyone has a different idea of what Bitcoin is for - that's the beauty of Bitcoin. It's versatile and multifunctional, a digital swiss army knife benefiting people around the world in unimaginable ways. Bitcoin is intended to revolutionize our global financial system - no single purpose listed above is sufficient. It may seem trivial to make this point, but there are two issues with the statement “Bitcoin is only for.” The first issue is that it’s limiting and minimizes the potential for mass adoption. It should be a common goal for all Bitcoiners to champion the many purposes it serves in every corner of the globe. I can't help but think back to my interview with Ray Youssef from Paxful. He described first-hand accounts of mothers in Africa using Bitcoin to buy goods for their newborn babies. For them, Bitcoin holds its value better than the native currency of their country and is a superior form of money. This is one small example, but you get the point - it's time to celebrate Bitcoin in the many ways it's used around the world. The second issue I take with the statement "Bitcoin is only for" is more relevant to readers and traders. As Bitcoin appreciates in value and maximalists are growing in their conviction, there are more and more people saying, “Bitcoin is only for saving - never spend your Bitcoin.” This idea may be financially sound for that person, but it does not make sense for most people. Taking profits should be celebrated rather than criticized. Not everyone has the privilege to never sell their stack or to take loans against it the rest of their lives. This rhetoric is dangerous because it negates the very reason Bitcoin grew in the first place – freedom. Governments have always controlled money. Some members of the Bitcoin community want to influence how we use our Bitcoin and limit its freedom. Furthermore, inexperienced bag holders that look up to the people that say, “never spend or sell your Bitcoin” now run the risk of holding a bag through the next bear market rather than taking profit and securing themselves financially. Don’t fall victim to believing Bitcoin has one purpose, do yourself and Bitcoin a favor and celebrate its versatility.I will be livestreaming chart requests today at 2 PM EST. Requests can be submitted every Wednesday from 8 AM to 1 PM via email. One per person, per week.https://www.youtube.com/watch?v=Hv8CytIoc6sIn This Issue:“Bitcoin is only for _______”We Are Bullish On ETH From IntoTheBlockBitcoin Thoughts And AnalysisJPMorgan Is Launching A Crypto-Related Stock BasketWill Oracle Buy Bitcoin?Jack Dorsey Is Selling His First TweetMy Recommended Platforms And Tools
The Wolf Den #195 - Is The Correction Over?
The Wolf Den #195 - Is The Correction Over?
The Wolf Den #195 - Is The Correction Over?
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use!I hear it all the time, “Bitcoin is only for _______”SavingStackingSpendingTradingCollateralBalancingPrivacyCollecting InterestHedgingEtc. Etc. Etc.Everyone has a different idea of what Bitcoin is for - that's the beauty of Bitcoin. It's versatile and multifunctional, a digital swiss army knife benefiting people around the world in unimaginable ways. Bitcoin is intended to revolutionize our global financial system - no single purpose listed above is sufficient. It may seem trivial to make this point, but there are two issues with the statement “Bitcoin is only for.” The first issue is that it’s limiting and minimizes the potential for mass adoption. It should be a common goal for all Bitcoiners to champion the many purposes it serves in every corner of the globe. I can't help but think back to my interview with Ray Youssef from Paxful. He described first-hand accounts of mothers in Africa using Bitcoin to buy goods for their newborn babies. For them, Bitcoin holds its value better than the native currency of their country and is a superior form of money. This is one small example, but you get the point - it's time to celebrate Bitcoin in the many ways it's used around the world. The second issue I take with the statement "Bitcoin is only for" is more relevant to readers and traders. As Bitcoin appreciates in value and maximalists are growing in their conviction, there are more and more people saying, “Bitcoin is only for saving - never spend your Bitcoin.” This idea may be financially sound for that person, but it does not make sense for most people. Taking profits should be celebrated rather than criticized. Not everyone has the privilege to never sell their stack or to take loans against it the rest of their lives. This rhetoric is dangerous because it negates the very reason Bitcoin grew in the first place – freedom. Governments have always controlled money. Some members of the Bitcoin community want to influence how we use our Bitcoin and limit its freedom. Furthermore, inexperienced bag holders that look up to the people that say, “never spend or sell your Bitcoin” now run the risk of holding a bag through the next bear market rather than taking profit and securing themselves financially. Don’t fall victim to believing Bitcoin has one purpose, do yourself and Bitcoin a favor and celebrate its versatility.I will be livestreaming chart requests today at 2 PM EST. Requests can be submitted every Wednesday from 8 AM to 1 PM via email. One per person, per week.https://www.youtube.com/watch?v=Hv8CytIoc6sIn This Issue:“Bitcoin is only for _______”We Are Bullish On ETH From IntoTheBlockBitcoin Thoughts And AnalysisJPMorgan Is Launching A Crypto-Related Stock BasketWill Oracle Buy Bitcoin?Jack Dorsey Is Selling His First TweetMy Recommended Platforms And Tools